Despite falling short of the playoffs in 2013, the Washington Nationals saw their franchise value go up by about $70 million over the course of the last year.

Forbes released their 2014 MLB team valuations on Wednesday and the Nationals came in at $700 million. That's good enough for 13th in the majors. Before last season they ranked 14th at $631 million.

According to Forbes, the Nats took in $244 million of revenue in 2013 after earning $225M the year before. That was in large part due to a 20 percent increase in sponsorship revenue. New agreements with companies such as T-Mobile, HBO and Utz were a large part of the growth.

Forbes says the Nats' operating income in 2013 was $22.4 million after a mark of $28.4M the season before.